Module 5 - 5-2 Milestone 2 ACC 201 COMPLETE

.xlsx
Asset Accounts Liability Accounts Acct # Cash 101 Notes Payable Accounts Receivable 102 Accounts Payable (Usually Short Term) Prepaid Rent 103 Wages Payable Office Furniture 104 Office Supplies 105 Accumulated Depreciation (contra asset) 106 This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you.
Equity Accounts Acct # Acct # 201 Owner's Capital 301 202 Owner Draws 302 203 Revenue Accounts Acct # Service Revenue 401 Expense Accounts Acct # Rent expense 501 Business License Expense 502 Insurance Expense 503 Repairs and Maintenance 504 Advertising Expense 506 Wages Expense 507 Utilities Expense 508 Depreciation Expense 509
A Company General Journal Entries Date Accounts Debit Credit 1-Mar Cash 125,000.00 Notes Payable 125,000.00 1-Mar Business License Expense 250.00 Cash 250.00 2-Mar Prepaid Rent 950.00 Rent Expense 950.00 Cash 1,900.00 5-Mar Office Furniture 2,750.00 Cash 15,000.00 Owner's Captial 17,750.00 6-Mar Cash 650.00 Service Revenue 650.00 8-Mar Advertising Expense 500.00 Accounts Payable 500.00 10-Mar Accounts Recievable 1,725.00 Service Revenue 1,725.00 15-Mar Insurance Expense 750.00 Cash 750.00 20-Mar Utilities Expense 135.00 Accounts Payable 135.00 20-Mar Repairs and Maintenance 95.00 Cash 95.00 22-Mar Owner Draws 500.00 Cash 500.00 25-Mar Office Supplies 215.00 Cash 215.00 25-Mar Cash 350.00
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